Best Binary Options Broker!
Perfect For Beginners!
Free Trading Education!
Free Demo Account!
Good Choice For Experienced Traders!
Honest IQ Option Broker Review 2020
|(5 / 5)||CySEC||10$||up to 100%+|
Is IQ Option a reliable broker or not? – In the financial sector, it is hard to find a good broker because the selection is quite large. On the internet, you can read a lot about scams and fraud. IQ Option is very popular for traders, but is it really worth to invest your money there and how good it the broker? – In this review read more about the facts and the conditions for traders.
The official homepage of IQ Option
What is IQ Option? | Facts about the company
IQ Option was funded in 2020 as a Binary Options Broker for everyone. The strengthening of the company is the low investment amount (minimum deposit) and the flexible trading platform. The broker is based in Yiannis Nicolaides Business Center, Agiou Athanasiou Avenue 33, 4102, Agios Athanasios, Limassol, Cyprus (EU) and is there regulated by the CySEC too.
Nowadays there are more than 2 million trades executed on the platform daily. The broker wants to give the trader an all in one platform with a huge variety of different assets and financial products. Personally, I know this broker since 2020 and they always improve their service and offer for traders. With a rising customer base, the payouts of the broker are rising too. 2020 they withdrew more than 11 million $ every month.
Facts about the company:
- Headquarters in Cyprus (EU)
- Broker since 2020
- You can use small investment amounts (1$)
- All in one trading platform
- High asset profit of 100% for Binary Options
- No hidden fees
How safe is the broker? – Regulation and safety of customer funds
The broker is based in the European economic area and uses the best banks for the client’s money. The broker money is separated from the customer’s funds. This is a big advantage and deletes the conflict of interest. In addition, they use different encoding techniques for providing a safe platform.
The trading account is very safe too. For example, you can use 2-factor authentication. After your login, you will receive an SMS message with a login code. You get only access to your account when you use your smartphone. The option can be turned on or off.
Facts about the safety:
- Regulated in Europe by the CySEC
- Safe customer funds on different banks
- Regulated payment methods
- Safety options for your account
Conflict of interest is a critical topic for the most brokers. Not for IQ Option. The broker hedges the positions of its clients in the real market for Forex, CFD, and Crypto. On the other hand, they hedge the Binary Options between the traders and there is no conflict of interest. In conclusion, the broker is one of the safest companies in the world and payouts are guranteed.
Review of the conditions for traders and trade offer
On the trading platform are more than 500 different assets available. You can trade them with Binary Options or Forex/CFD. Also trade Stocks, Options, ETFs, and cryptocurrencies with the minimum amount of 1 dollar.
Best Binary Options Broker!
Perfect For Beginners!
Free Trading Education!
Free Demo Account!
Good Choice For Experienced Traders!
Assets of the IQ Option platform
The most traded financial product on the platform is Binary Options. You can choose an expiry time between 30 seconds and at the end of the month. IQ Option gives a trader the flexibility to develop his own trading style. The asset profit of Binary Options is compared to other brokers very high. With a normal account, you get some time over a 100% return. The VIP account gives you 5-20% more return (available with more than 3000$ deposit).
Forex, Commodities, Stocks, and Cryptocurrencies are tradeable with a spread of less than 1.0 pip. The spread depends on your asset and market conditions. In addition, you can trade with a maximum leverage of 1:1000. That is very high, but you can change the leverage before each trade. European traders have to use the maximum leverage of 1:30 because of the new regulation.
In conclusion IQ Option makes a very reliable impression for me. The range of assets is quite high and the fees are at the lowest point compared to other brokers.
Advantages for traders:
- One broker for different financial products and assets
- Competitive trading fees
- Fast execution for trades
- Trade 24/7 on the platform
|Binary Options, Forex, CFDs||Commodities, Stocks, Forex, Cryptos||100%+||Less than 1.0 pip|
Review of the IQ Option trading platform
IQ Option offers a unique trading platform (picture below) for the browser, desktop, smartphones, and tablets. From my experience, the platform is flexible and very customizable. The goal of IQ Option is it to make trading very simple. Beginners should be familiar with the platform in a few minutes.
It is an all in one platform because IQ Option offers so much opportunities to invest in the financial markets. You get access to a wide range of assets with a few clicks. The transactions are clearly shown in the platform so that transparency is given.
Use different types of charts and popular indicators for your own strategy. You can customize the chart by yourself. Multicharts for a better analysis are available. It would be too much if I show you all the options on this page. Just predict the asset price direction and open your first trades. You can always trade a long or a short position. In conclusion IQ Option got one of the best trading platforms compared to other brokers.
Screenshot of the Trading Platform
Furthermore, the platform is available as an app for desktop, smartphone or tablet. The broker says that the app for the computer is much faster than the web version. The broker´s portfolio is complete with mobile trading for its clients.
Benefits of the platform:
- All in one platform
- A wide range of indicators
- Flexible and customizable
- For desktop, browser, smartphone, and tablet (apps)
- Fast trade execution
Professional charting and analysis is possible
For analysis, it is important to use the chart. Different strategies can be accomplished with the trading platform. IQ Option provides 4 different types of charting. You can customize them within the color and the timeframe. The settings are automatically saved by the platform or you can do it manually.
Use more than 18 different timeframes. It is possible to use between a 5-second chart and a 1-month chart. The diversity of options is very huge on the platform. The Broker always tries to improve its offer for his clients.
Another point to mention is the graphical tools and indicators. Use more than 5 different graphical tools (included Line, Trend Line, Horizontal Line, Vertical Line, and Fibonacci Lines). Technical analysis works reliably in the markets and is used by more than 100 years of financial trading. Also, the graphical tools are customizable within the colors and the thickness. For example, you can lock them in and they will not move in the future.
Trade with more than 20 different technical indicators. The features are available in the mobile app too. The most popular indicators are the Moving Average, Bollinger Bands, RSI and ATR. In conclusion, the broker provides a big range of different analysis tools for your success in trading. Another big advantage is that they are fully customizable.
Widgets and indicators
At the latest, there are different widgets to customize your trading platform. Watch the Current Buy/Sell ration for the selected asset with the Traders Mood. You can generate different trading ideas because of that. Furthermore, it is possible to see the trades of other traders in the chart. In my opinion, it can be a motivation for your trading. In addition, pop up news is available directly in the chart. The news depends on your chosen asset.
Trading Tutorial: How to trade with IQ Option
IQ Option offers a huge diversity of different financial products to trade the markets. The most popular product of the broker is Binary Options. From my experience IQ Option is one of the best brokers for binary trading. Binary Options are the most traded product on the platform. In this section, I will show you how it works.
If you want to trade Binary Options successfully, you have to make the right forecast of the market movement. Risk and profit are limited. Special for Binary Options is the expiry time. You have to choose between different time horizons. It can be longterm or short-term. The trade automatically closes after the expiry time. Bet on rising or falling markets. The price has to be below or upper your entry point.
Make a forecast for the market movement
How to trade Binary Options?
Predict the asset price direction in a certain expiry time and invest any amount of money. If you invest 100$ and make the right forecast, you will win the trade and get a payout of 195$. 100$ is the return of your investment and 95$ is the profit. It is very easy to understand and you can practice it with a demo account. The profit is fixed by the broker and the asset movement do not influence it.
On the other hand, Forex/CFDs/Stocks/Cryptos will give you a profit by moving in the right way of your forecast. The further the markets go in your direction the more profit you will make. You can open and close the trade at any time and limit your risk with a stop-loss. In addition, you can set automatic profits with the take profit. One the platform you can learn more about it. IQ Option offers a wide range of educational material for beginners and advanced traders.
How to trade Forex?
Forex is one of the beloved markets in the world. Also, it is the most traded market with more than 3 trillion USD every day. You can trade different currencies against each other. At the moment more than 174 Forex pairs are available on the trading platform. The Forex trading is leveraged up to 1:1000. That means you can multiply your investment amount by more than 1000 times. Before you start trading you can choose your own leverage of the trade.
If the currency moves into your price direction, you will get profit each moving point in the market. There are no expiry times and other rules like Binary Options. The stop-loss and the take-profit are important tools in forex trading because they automatically close the trade on a certain price. You can manage your risk with the trades.
Facts of Forex Trading with IQ Option:
- More than 100 different Forex-pairs
- Low spreads
- High liquidity
- Leverage up to 1:500
Invest in international Stocks and ETFs (CFDs)
Stocks and ETFs are popular products like Forex. Choose between 10 different stock exchanges (IQ Option improves diversity) worldwide. You can go long or short on Stocks and ETFs. Also, the multiplier is available for them. Stocks are very sensitive to news. With the news-calendar, you can generate trading ideas quickly on the trading platform.
ETFs are like a stock collection and traded on the stock exchange. You can build a wide-ranging portfolio with them. Stocks and ETFs are traded as CFDs (contract for difference). You do not have to buy the underlying asset to generate a profit. You just buy the contract on any asset you want. The advantage is that you can go short and use a multiplier to increase your profit.
Facts about Stock and ETF Trading:
- Trade stocks, commodities, metals, crypto, and more
- Low and competitive spreads
- Leverage up to 1:500
- Short trading is available
IQ Option Cryptocurrencies (with leverage and without)
2020 and 2020 was the year of the new Cryptocurrencies. Some crypto exchanges stopped to attract new clients and they closed the registration. It was like a trend for investing money. In 2020 the market dropped down very hard. With IQ Option you can trade in both directions of the markets. This is not possible on the most trading platforms. Trade Bitcoin, Ethereum, Ripple, Iota and more on the platform.
Nowadays 24 Cryptocurrencies are available to trade. Another big advantage is the multiplier/leverage for Cryptocurrencies. For example, it is allowed to use a multiplier of 100x on Bitcoin. This is a huge amount of leverage. So you can make more profit on small market movements. In addition, there are no overnight fees for trading crypto without leverage. In conclusion IQ Option is one of the best flexible crypto platforms for fast investing your money.
How to use the Leverage/Multiplier
IQ Option offers huge leverage for some financial products. Always the leverage depends on the traded asset. The maximum leverage is 1:1000. That means if you invest 1$, you are trading the amount of 1000$ on the market. Different strategies are possible because of that. In my opinion, a multiplier is a great tool to increase your profit. For small investments, it is necessary to use a multiplier. With IQ Option you can change the multiplier in every new trade. This is a big advantage in comparison to other brokers.
Mobile Trading for any device
Nowadays mobile trading is sometimes necessary because of political or fundamental news. Also, it is important to check your portfolio when you away from the keyboard. IQ Option provides a mobile app for Apple (IOS) and Android users. I was surprised by using the mobile app that the program is flexible and smooth like the trading platform for browser or desktop.
Binary Options are forbidden in the Appstore but you can trade Forex/CFDs/Crypto with the apple app. In the app, you can directly chat with the support of IQ Option or chat with other traders. This is a good way to improve your results or ask questions. There is no difference in the order execution in the app or trading platform.
Learn to trade with the free Demo Account
Especially for beginners, it is important to practice trading in the demo account. This is an account with virtual money. So you trade without risk. IQ Option offers you a free and unlimited virtual account. With one click you can change between your real and demo account.
There is no difference between the demo and real account. I tested it and the conditions are the same. Furthermore, it is important for advanced traders to improve their own strategy in the demo account. Directly in the platform, you can watch as beginners the education videos and analysis of IQ Option.
The account is capitalized at 10.000$. This is the best amount for testing the platform. If you make some losing trades, you can easy recapitalize the account with one click. In conclusion IQ Option offers one of the best demo accounts for trading.
Facts about the Demo Account:
- Free and no hidden fees
- Demo account with 10.000$
- You can deposit virtual money with one click
Open the real account is very easy
The real account is combined with your demo account. With one click you can change between these 2 accounts. For the registration, you only need your name, email and a secure password. The account opening only takes the time of 30 seconds. After the registration, you can start practice in the demo account or deposit your first money. It is possible to trade without verification.
I recommend doing a verification before you start investing real money because withdrawals without verification are not allowed. Just upload some personal documents and the account will be approved in less than 24 hours.
For beginners there is a complete tutorial on the IQ Option trading platform. For further questions, you can ask the chat-support.
- Verification in less than 24 hours
- Change between demo and real
- Fast support for questions
Review of the deposit and withdrawal with IQ Option
In this review, we will have a look at the deposit and withdrawal options. From my experience, the payment system of IQ Option is one of the best. First of all, you can start with a small investment amount of 10$. There are different payment methods for deposit and withdrawal. Every trade should be able to capitalize on his account.
Withdrawals are processed within less than 24 hours. IQ Option is not a scam, because often I paid out and I know a lot of other traders who did it. In conclusion, the company provides you the best service. You can use Creditcards, E-Wallets, Cryptos or Bankwire for your deposit and withdrawal.
Regulated and fast payments
These payment methods are available:
- Credit Cards (Master/VISA)
Is a bonus available?
At the moment there is no bonus for clients and their deposit. In the past, there was a deposit bonus. Nowadays they deleted the bonus because only a few traders used this service. In my opinion, the professional and successful trader does not need a bonus for their account to make a profit.
Which fees can occur with IQ Option?
Are there any hidden fees? – No, there are not any hidden fees for you. Withdrawals and deposit are without any fees. It is completely free. In addition, there are some fees for the trading instruments and an inactive fee:
- Binary Options: No fees for trading.
- Digital Options: No fees for trading.
- Forex, CFD, Stocks, Crypto spread: You always pay the market spread of the asset. The spread value depends on the asset. For example, popular assets got a lower spread. It is the difference between the buy and sells (bid & ask) price in the market. IQ Option takes this fee for earning money and get paid. Compared to other brokers the spread is very low. Sometimes IQ Option makes a special event with lower spreads. The regular spread is between 0.010 and 0.030% in forex trading. Always you can see the spread transparent in the trading platform.
- Leverage: Leverage is borrowed money. If you hold a position longer than one day with a multiplier, you will get charged an overnight fee. This fee depends on the asset and the multiplier. You can see it transparent in the platform or you can ask the support for help.
- Inactive fee: IQ Option charges a fee for inactivity after 90 days. The fee is 50$. If your account balance is zero, they can not charge this fee.
Account Types (VIP)
IQ Option offers a VIP account for deposits more than 3000$. You will get a VIP-Manager, increased profitability, better support, and unique offers. Important to know is that you have to deposit more than 3000$ in one deposit. If you deposit 3000$ in more than 1 payment, you do not get the VIP-status.
The VIP Account gives you more return on profit
Increased profitability is a big advantage for Binary Options. You earn more money in your trades. The increased profitability is between 5% and 21%. It depends on your traded asset. In the platform, you can see the return on investment by a symbol next to the asset.
Another advantage is VIP-training. You will get access to different PDFs only for VIP-members. Furthermore, you can book direct sessions with your VIP-manager. The support is very comfortable and they will care about you in different ways. In conclusion, a VIP-account is a good opportunity to get more profit and knowledge for your success in trading.
Tournaments and Contests for beginners and advanced traders
Tournaments and Contests for trading with Binary Options. In most cases, more than 3 different Tournaments are available for traders. Each Contest got his own condition for trading. You can win a huge amount of money in a short time. Now I will show you how the Tournaments are working:
If you take part in one contest, you will get a separated account for the contest. It is like the demo account with virtual money. Now you have to make a profit and compete against other traders. Do not blow up the account otherwise, you have to pay the registration fee again. Sometimes there is a big prize pool of 100.000$. This is a good way to earn money with a small investment.
Facts about the battles:
- Compete against other traders
- Pay a registration fee
- Trade with virtual contest money
- Make as much profit as you can
- The first places win a huge amount of money
- Example: You can win money with the place of 30. This depends on the Tournament.
Tournaments and Contests
These countries are available for IQ Option Traders
As mentioned before IQ Option is an international broker. The trading industry is growing constantly and more people like to invest their money in simple steps. Asia and Africa it the biggest area of the broker. The broker provides support in more than 20 different languages. It is multiple and they accept more than 200 different countries.
These countries are not accepted: the USA, Iran, Israel, Australia, Canada, North Korea, Japan, Latvia, Syria.
In fact, Asian is the fastest growing market and the broker try to improve their support for Asian traders. Also, trading is legal and very popular like gambling but is IQ Option legal in India, South Africa, and other countries? – Yes, it is. After my research, there are not any illegal actions of the broker for this region.
The broker added different Asian and African countries to their offer:
Are robots and trading signals provided?
Robots and automatic trading are not provided by IQ Option. In addition, it is very difficult to create a robot because they got their own unique trading platform. So expert advisors cannot be used.
Furthermore, there are no trading signals from the broker. The broker prefers that traders use their own knowledge to make a profit. In the trader’s chat you can talk to other clients to generate trading ideas. This is a way to get signals from other traders. Personally, I do not like signals and robots because you are not independent if you use them.
On the internet, you will see videos of IQ Option robots or bots which are trading with high profit. This is to 99% a scam for your money. You should not try to use a bot because the seller wants to steal your money. Besides, IQ Option does not allow automated trading. Your account can be banned without warning.
Review of the support and customer service for traders
As a reputable broker, IQ Option also offers a good service to its clients. The support is available 24 hours a day via phone, chat or email. For beginners, there is a big education center with over 200 different videos. In addition IQ Option offers account managers and VIP managers. They will help you to understand the platform better.
Furthermore, IQ Option provides daily analysis and news for trading. You get access directly to market news through the platform. In conclusion, the support and service of the company are very good. The biggest advantage is the 24-hour support via chat.
|Phone, Email, Chat||More than 20||[email protected]||+44 80 0069 8644|
Conclusion of my review: Is IQ Option legit?
IQ Option is interesting for beginners and advanced traders. Definitely, IQ Option is not a scam. It is a reliable European broker for trading Binary Options, Forex, CFD and more. In conclusion, the broker offers a wide range of financial products for the traders. First of all, I recommend using the demo account. You will be surprised by how good the trading platform works.
It is an all in one platform for the financial markets and one of the biggest. IQ Option is one of the most popular brokers in the world and I can confirm that. This review showed you the facts and a lot of information about the company. I think you are now ready to invest in the platform by using your money and start becoming a successful trader.
The advantages of IQ Option:
24 hour support
Start with a 10$ investment
More than 500 different assets
Diversity of financial products
All in one platform
High asset profit of 100%+
IQ Options shows clearly the best conditions and offers for traders (5 / 5)
IQ Option Review
IQ Option is an online trading platform that allows you to trade a variety of financial instruments including binary options, stocks, forex, ETFs, commodities, and cryptocurrency.
This broker was founded in 2020 and is operated by IQ Option LTD. IQ Option has rapidly become one of the most popular trading platforms for traders across the world with over 48,000,000 registered users and over 1,000,000 transactions per day. IQ Option accepts traders from over 213 countries including India, Nigeria, South Africa, The Philippines, Malaysia, Pakistan, Singapore, and many more.
IQ Option is based in Cyprus and regulated by the CySEC (Cyprus Securities and Exchange Commission).
In this IQ Option review, I’ll tell you everything you need to know about this broker to help you decide whether or not this company is right for you.
Custom-built Proprietary Platform
iOS, Android, Windows, and MacOS
ETFs, Digital Options, Binary Options, Forex, Cryptocurrency, Commodities, Stocks
Countries Not Accepted:
United States, Japan, Israel, Turkey, Belgium, Russian Federation, Australia, Canada, Germany, Italy, Netherlands, Romania, Spain.
Credit Cards, Debit Cards, Maestro, Skrill, WebMoney, Cash U, Neteller, and Moneybookers
Processed Within 1 Business Day.
Table of Contents
IQ Option Trading Platform
Unlike other brokers that use a standard trading platform, IQ Option has a proprietary custom-built platform to cater to the needs of its users. The platform is very easy to use and is well-designed. It has many useful features including multi-chart layouts, technical analysis, historical quotes, volatility alerts, market updates, stock screeners, economic calendars, and more. It’s also available in 13 different languages.
Within the IQOption trading platform, you can trade a variety of assets and financial instruments including stocks, digital options, binary options, forex, crypocurrencies, ETFs, and commodities. However, it should be noted that binary options are prohibited in the EEA.
In the image below, you can see that the chart is in the middle. The Buy and Sell boxes are on the right-side. Your account balance and the asset you’re trading is located at the top of the screen.
On the left-side of the platform, you’ll see a drop-down box which allows you to choose which financial asset you want to trade. Your available assets to choose from include Cryptocurrencies, ETFs, Stocks, Options, Forex, Indices, and Commodities. You can browse assets by category or use their search function to find a specific asset.
On the right side of the trading platform interface, you will have the option to enter the amount you wish to trade and whether you want to Buy or Sell. You can also enter a multiplier if you wish to multiply your potential profit by a coefficient. However, a multiplier increases the risk as well. You also have the ability to close the trade automatically if the asset reaches a certain threshold that you set forth.
Video Demo of How To Trade With IQ Option
What Assets Can You Trade With IQ Option?
IQOption originally started off as just a binary options broker, but they now offer clients the ability to trade Contract For Difference (CFDs) on Cryptocurrency, ETFs, Forex, Stocks, and a variety of binary option contracts.
As of this review, IQ Option allows you to trade CFDs on 169 of the best-performing stocks without opening fees. The minimum investment is $1 for Stock CFDs with leverages up to 1:20. Their list of stock assets include some of the biggest companies in the world such as Apple, Tesla, Amazon, Boeing, and many more.
FX trading is one of the most popular trading markets on IQOption. This broker offers competitive spreads and a wide range of currency pairs including EUR/USD, USD/JPY, GBP/USD, USD/CAD, AUD/USD, NZD/USD, and USD/CHF. Currently, there are 50 Forex Pairs on the IQ Option platform.
IQ Option gives you the ability to trade CFDs on Exchange-Traded Funds, also referred to as ETFs. An ETF is where many different assets are combined into one basket. There are 25 ETFs currently available to trade.
IQ Option allows you to trade CFDs on 27 different cryptocurrencies including Ethereum, Bitcoin, Ripple, Neo, Cosmos, Binance Coin, Litecoin, Cardano, ZCash, TRON, Stellar, Iota, Dash, EOS, and Bitcoin Cash. You can expect great margin trading leverge and short selling options with quick deposits and easy withdrawals.
IQ Option currently offers CFDs on 5 commodities including Silver, Crude Oil Brent, Crude Oil WTI, Gold, and Platinium.
Trade Types and Payouts
Binary options is a financial instrument that pays a fixed return for a correct market prediction on the price of an asset within a predetermined time-frame, or expiry time. Correctly predicting an asset’s price movement (up or down) can result in a profit of up to 95%. Trading binary options on IQ Option has a $1 minimum investment, $0 brokerage fees, and expiry times ranging from 60 seconds until the end of the month.
Digital Options (CFDs)
Digital Options is a financial instrument that allows you to speculate on the extent of the price movement of an asset. Payouts for digital options can go as high as 900% if the asset reaches the threshold specified by the trader. The minimum investment for digital options is $1 and the expiry times range from 60 seconds to 15 minutes.
IQ Option offers over 15 different technical indicators to help you identify trends and to spot profitable trades. The 15 technical indicators that are available to you include: MA, Volume (exchange), Bollinger Bands, Alligator, RSI, MACD, Parabolic SAR, Stochastic Oscillator, Awesome Oscillator, ATR, ADS, Fractal, CCI, Ichimoku Cloud, KDJ, DPO, and Belkhayate Timing.
In order to help you get the most benefit from trading with IQ Option, the broker offers a variety of charting tools that can help you formulate a successful trading strategy. The 5 charting tools available on IQ Option include Area, Line, Candles, Hollow Candles, and Bars.
IQOption offers clients the ability to trade options and CFDs using their proprietary mobile application. The mobile app works on Android and Apple iOS operating systems. It is available for download via the Apple Store or on Google Play.
The app is very easy to use and has a very clean and intuitive graphical interface. It has the same charting options that you can find on their regular web-based platform as well.
By using the IQOption mobile app, you can:
- Execute Trades
- Check Account Status
- Stay Updated With Market Developments
- Use Charting Tools
- Setup Customizable Alerts and Push Notifications
- And More
IQ Option has 2 different types of trading accounts to choose from: Standard and VIP.
For a standard trading account, just a $10 minimum deposit is needed. Unlike other CFD providers, there are no restrictions on trading functionality. You get access to over 350 assets to trade as well as 24 hour withdrawal processing. You also get access to several trading competitions that are held on the IQ Option platform (only applies to customers outside of the EU).
A VIP trading trading account is only available for clients that deposit $1900 or more within a 2-day period. A VIP account includes a personal account manager, monthly reports on your trading records, and 3% in additional returns. VIP accounts are only available to customers outside of the EEA.
IQ Option Demo Account
Like many brokers, IQ Option offers a free demo account that includes $10,000 in virtual money. There is no limit on how long you can use the demo account for. This offers you the ability to test different trading strategies and to get familiar with the platform before investing real money. If you run out of virtual funds inside of your demo account, you can have them replenished so you can continue practicing.
You don’t have to register or give out your personal information in order to access the IQ Option demo. This is not always the case with other brokers, as a lot of companies require you to provide at least an email address in order to gain access to their demo.
IQ Option has recently came out with a product known as “Cryptocurrency Multiples”. The product basically works the same as a leveraged trade, where the price movements of an asset is magnified by a multiplier. Cryptocurrency multiples was originally produced with the idea of Bitcoin X 100. This essentially increased the price movement by 100X times, which created a large opportunity, as well as risk, for traders.
Due to the popularity of Bitcoin X 100, IQ Option has expanded the concept to IOTA, Ethereum, Ripple, and other cryptocurrencies. The multipliers you have to choose from include X20, X50, and X100. However, the cryptocurrency multipliers are only available for citizens outside of the EU.
IQ Option is one of the only brokers that offer a product called FX Options. Currently, this product is only available for the 5 main currency pairs.
FX Options are available in regulated markets inside the European Union. They are similar to binary options because they offer a fixed-risk investment. You understand the potential profit and risk upfront. Each FX Option has an expiry time and the potential profit depends on the asset’s price. Payouts can reach up to 2000% and there is a minimum trade amount of $30 for FX Options.
It’s also important to know that FX Options can be sold at any time, even before expiry time is reached. This is a useful feature that can help you lock in profits or cut losses.
IQ Option offers its traders a variety of order types and stop loss tools to help minimize losses and maximize profits on binary option trades.
Stop Loss Orders – This feature allows you to set a maximum loss that you’re willing to accept on a trade. When this order type reaches the amount you specified, the trade automatically closes to limit your loss.
Multiplier Orders – This feature allows you to improve your return on investment via a multiplier. If you set a multiplier, the price movement of the asset will increase by 20X, 50X, or 100X. This feature can dramatically increase your profits as a result, but it can also expose you to more risk as well.
Take Profit Orders – This feature is the exact opposite of a stop loss order. You can close a trade early and take your profit when it reaches your specified amount.
Pre-Order – This feature allows you to enter the market when an asset reaches the exact price that you specify. Once the asset reaches that price, the trade will be executed automatically.
Regulation and Security
Over the years this binary option broker has been operational, it has won multiple awards praising it’s quality of service and reliability for customers. IQ Option is recognized as one of the best brokers in the industry by many millions of traders worldwide.
IQ Option is regulated by the CySec and is registered in Cyprus under the company name “IQ Option Europe LTD”. This means that they are able to service clients within the EEA.
For traders that reside outside of the European Economic Area, their trading accounts are managed by a sister company known as “IQOPTION LTD”. This company is registered in St. Vincent and Grenadines, and this entity is not regulated.
The minimum deposit for opening a real account with IQ Option is $10 USD/GBP/EUR. This broker does not charge any processing fees for depositing funds. In order to make your first deposit, you will have to go through an account verification process which might require photo identification. Some countries will have different requirements than others.
For your convenience, IQ Option offers many different ways to deposit money into your account including credit cards (Visa and Mastercard) and wire transfers. This broker also accepts many different E-wallets including Skrill, Maestro, WebMoney, Neteller, Cash U, and Moneybookers. IQ does not accept Paypal as a payment method.
The minimum withdrawal amount for IQ Option is $2. In order to make a withdrawal request, you will need to use the same payment method as your deposit because the transaction is processed as a refund. Afterwards, you can choose whichever payment method you want for withdrawals. Bank transfers may incur a small processing fee.
In order to withdrawal funds from IQOption, you’ll need to verify your identity. This verification process can take up to 3 days and is necessary to prevent fraudulent activity and to secure your account from unauthorized use.
All withdrawal requests are processed by IQ Option within 1 business day. If you request a withdraw to a bank card, it may require additional time depending on your bank.
Is IQ Option Safe?
Yes, IQ Option is safe. This company is one of the biggest and most successful binary option brokers in the industry with over 40,000,000 registered users. They are also licensed and regulated by the CySEC (Cyprus Securities and Exchange Commission) and the FSA (Seychelles Financial Services Authority). All client funds are held in segregated bank accounts for further security. IQ Option is also a member of the Investors Compensation Scheme, which protects client funds up to a maximum of $20,000.
Can You Really Make Money With IQ Option?
Yes, of course you can make money with IQ Option. In order to make a profit, you have to correctly predict an asset’s price movement by the time the trade contract expires. IQ Option offers short-term trades that allow you to make money within 60 seconds if you predict the market direction correctly. Binary options pay up to 95% profit, while digital options pay up to 900% profit.
Bonuses and Promotions
Due to regulations set forth by the CySec, IQOption.com doesn’t offer any type of deposit bonuses.
However, this broker does offer trading competitions that allow you to compete against other traders for prizes ranging from $100 all the way up to $100,000. Unfortunately, these trading tournaments aren’t available for citizens within the EEA. Standard accounts can join the competitions for a fee, while VIP accounts get free entry.
Countries and Languages
Countries NOT Accepted:
Unfortunately, IQ Option is not able to accept traders from the United States, Russia, Canada, Australia, France, Japan, Belgium, Turkey, Israel, Iran, Syria, and Sudan. The countries listed above have stricter restrictions and regulations, making it difficult for IQ Option to provide trading opportunities to their citizens.
Countries Accepted By IQ Option
IQOption accept traders from over 213 countries including Argentina, Bangladesh, Bolivia, Botswana, Brazil, Cambodia, China, Colombia, Egypt, Ghana, India, Indonesia, Iran, Ireland, Jamaica, Japan, Korea, Nigeria, Germany, Kenya, Malaysia, Maldives, Macedonia, Mexico, Morocco, Namibia, Netherlands, New Zealand, Pakistan, Philippines, Saudi Arabia, Serbia, Singapore, Somalia, South Africa, Sri Lanka, Switzerland, Tanzania, Thailand, Turkey, UAE, Uganda, Ukraine, United Kingdom, Vietnam, Zambia, and Zimbabwe.
IQ Option has various forms of customer support including email, telephone, and online chat. There are currently about 90 customer service support representatives available to assist you.
For your convenience, IQ Option has toll-free phone numbers available in the following countries: United Kingdom, Brazil, South Africa, India, Singapore, Thairland, Colombia, Australia, Mexico, Portugal, Spain, Argentina, and Chile.
For online chat support, the average wait time is an impressive 38 seconds. For email support, the average response time is 14 minutes.
Is IQ Option A Scam?
Absolutely not! As of 2020, this broker has over 41 million registered users from over 213 countries worldwide. The number of active traders is growing every year and there’s no signs of that changing. They also process more than 1 MILLION transactions per day.
IQ Option is a legit broker and one of the most reputable companies in the industry. Their intuitive trading platform is the best around and we highly recommend IQ Option to traders of all experience levels, beginner to advanced.
* 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.
Robert Wolfe is the founder and chief editor of Impact Investing Collaborative. Robert is an expert trader with over 10 years of experience trading binary options, Forex, and CFDs. He prides himself in providing accurate and in-depth reviews in order to help others find a trading platform that fits their needs. When Robert isn’t actively trading or managing Impact Investing Collaborative, he enjoys spending time with his 3 kids, playing golf, and spending time outdoors.
Welcome To Our Site!
My name is Robert Wolfe and I’m an online trader with over 7 years of experience trading financial instruments such as binary options, CFDs, forex, and stocks. I created this website to share my knowledge of the industry so you can avoid the same mistakes I’ve made.
IQ Option Review: Complete Beginners Guide
In this IQ Option review, we are going to take a look at one of of Europe’s largest CFD brokers.
This review will give you everything you need to know about the IQ Option platform and whether it is the broker you should consider. We also set up a live trading account which will give us first-hand experience of the broker from the perspective of a client.
Let’s dive right in and put the broker through their paces…
Is IQ Option Safe?
This is probably one of the most important questions for any trader that starts on a platform. Safety of funds and data are essential to a secure trading environment.
In the case of IQ Option, they are a regulated broker that has a licence to provide investment products in the European Union. The licence that IQ Option has if from the Cyprus Securities and Exchange Commission (CySec).
In order to obtain this licence, the broker has to meet numerous minimum requirements as it pertains to client funds, trading products and marketing restrictions. You can read more about CySec regulations on their website.
Client Funds Safety
In the case of client funds, all of the money has to be kept in a secure segregated account that is off limits for broker business. You can think of this as a safe deposit box for all client funds that has to be monitored on a regular basis.
This will ensure that IQ Option will always have a certain minimum of funds should the clients all decide to withdraw. This is very important as it ensures that there is liquidity at the exchange in times of market stress.
Moreover, the CySec regulators also have something akin to deposit insurance at the regulator level. This means that should anything ever happen to IQ Option, your deposit is insured up to a certain level by the regulators in Cyprus.
As is standard with most trading platforms these days, IQ Option is fully SSL encrypted. This means that all trader communication that is sent to IQ option servers is encrypted using AES 256 Bit encryption standards.
Why is this important? Well, hackers.
There has been a great deal in the news about the tactics of hackers when it comes to man in the middle attacks and phishing. Put simply, an SSL certificates are meant to limit the effectiveness of these attacks and protect the trader.
While we are on this point, it is worth mentioning that you should always make sure that you see the green padlock in your browser address bar (image right) to make sure that you are not visiting a phishing site. This goes for any broker or exchange.
IQ Option started out as an option platform that offered traditional assets to trade. These included assets such as stocks, commodities, ETFs and plain vanilla forex. However, they have greatly been increasing their offering of cryptocurrency assets.
In the chart to the right, you can see a list of all the cryptocurrency pairs that are on offer at IQ Option. There are over 12 pairs that you can currently trade and they are always adding more. These include the likes of Bitcoin, Ethereum, Ripple, Dash, Litecoin, Monero, Zcash etc.
Although these may be just perfect for the normal cryptocurrency trader, there are numerous other assets that remain on the legacy platform of spot that you can dabble in. They are listed below:
- Forex: For those traditional traders who like trading Fiat Forex, you have a great many options for traditional currency trading on IQ option. There are over 188 currency pairs from you to choose from as well as a range of different crosses between the pairs.For those crypto traders who are slightly more advanced, you can use the forex pairs in order to set up a crypto trade in your own local currency. You can open a CFD position on the USD cross as well as that of the cryptocurrency USD cross in question.
- Stocks: There are also hundreds of traditional stocks that you can trade on the IQ Option CFD platform. You have a selection of over 7,500 stocks to trade that are on a number of different global exchanges. These include the NASDAQ and the FTSE etc.
- ETFs: ETFs, or Exchange Traded Funds, are collective investment funds that allow you as the investor to trade on an index of stocks. IQ option has some of the most extensive lists of ETF instruments to trade with over 4,288 to choose from.
For their crypto, FX and stocks they currently offer these products as Contracts for Difference (CFDs). CFDs are derivative instruments that will pay out the trader based on the difference in price at the beginning and the end of the trading day.
CFDs are also levered instruments which means that you can take a much larger position on a trade than you have available. This could amplify your returns provided that you manage your risk in an appropriate manner.
In terms of the leverage the IQ Option provides with these CFDs, it differs according to the asset class. For example, you have leverage of 10x on Stocks, 20x on Cryptocurrencies and a really punchy 200x on Forex. It goes without saying that you should trade such instruments very carefully.
Of course, IQ Option is known for their option instruments. These include their Binary Option and digital option offerings. These instruments are asymmetric instruments which means that they have a defined loss and profit.
With these instruments, you will lay out a premium for the option trade that will usually be a small premium of the asset in question. You will also have an expiry time and an expiry price. If the option expires in the money then you can make a large return on your investment. If it expires out of the money then you will lose the premium.
Funding / Withdrawal
IQ Option has a number of payment options that traders can make use of. They accept cards from Visa and Mastercard. They also accept funding through numerous online wallets including Web Money, Skrill, Cash U and Neteller.
For those who would prefer to fund their account through a simple wire option, they also have that option. This will usually take a bit longer than a deposit via card but the fees will be lower for larger amounts.
For those traders who are merely starting out trading, the minimum account funding size is a mere $10. This will give you access to the real account (explained below). Payments that are made via wire can take a bit more 2 days and this depends on where you bank is located.
They also claim that you can withdraw instantly with no questions asked. They state that these can be withdrawn in under 24 hours and that you can process any withdrawal amount that you would like.
We wanted to test this so we opened an account at IQ option and deposited $100. Our deposit was a wire payment and took about 1 day to arrive (our bank is in the EU). We then requested a withdrawal of $10 after placing a few trades.
The team at IQ option told us that we still had to verify our account. After verification went through, our funds were indeed sent and took a little over a day to hit our account (less wiring fees). One thing that the trader has to consider is that they can only withdraw in the same manner through which they funded.
Customer service is something that is often in short supply among brokers and exchanges. This of course makes sense given the immense amount of people who want to invest and the limited number of exchanges where they can do this.
Hence, we wanted to test the customer support response times and effectiveness at IQ Option. We did this initially in the verification phase when we were waiting on our documents. For KYC purposes, IQ option required our proof of identity and address.
We sent our docs off and they took about 2 days to verify. During the period we send out a number of support tickets on the platform as well as corresponded with them on email. Response times were about 2 hours on average.
While these response times are not the best we have encountered, they are definitely below average. We also have to take into account that IQ Option has millions of accounts at the moment which is considerably more than all of the other brokers and exchanges on the market now.
There also seems to be a dedicated phone number for the team at IQ Option. This is not something that one often sees at exchanges or other CFD / Stock brokers in general. It gives a slight personal feel to the trading experience.
Jurisdictions & Languages
As mentioned, IQ Option is owned and operated by a company in the European Union. They are also a registered financial services provider in Cyprus with the registration number of 247/14. This means that they are legally allowed to take European clients. These clients will also have full protections afforded by CySec.
IQ Option has also spent a great deal of time translating their website and platform. For example, they currently have support for up to 13 different languages.
So that these traders could feel comfortable trading in a balance of their local currency, IQ Option allows funding in GBP, USD, EUR and the following other currency groups: RUB, IDR, MYR, Yuan.
In terms of the local laws, there are some countries that they are not operating in. Traders from the following countries unfortunately cannot make use of their services: The USA, Canada, Israel, Palestine, Australia, Russia, Syria, Iran, Japan, Belgium.
One of the great advantages that we found out about IQ Option was their free demo accounts. Unlike other exchanges and brokers, IQ option gives the trader $10,000 of demo funds that they can use to test out the platform.
They can trade on the demo platform as long as they like and there are no time restrictions. If you have depleted the practice funds then you can always have it replenished. This is a great way for new traders to test out their skills before they invest any live money.
You can also do this with practice funds without having to give over any personal information to start. Hence, you can quickly and easily test the platform without worrying about having to hand over any phone numbers or identity documents.
Once you are satisfied with the trading platform and are comfortable with your trading skills, you can move onto a live account and invest your real funds. There are two types of accounts at IQ Option for you to utilise. They are the Real account and the VIP account.
- Real Account: This is the entry level account at IQ Option and only requires a minimum funding amount of $10. With this account, you have access to over 70 asset to trade across a range of asset classes. This will have exactly the same platform functionality as the demo account.
- VIP Account: If you fund more than $3,000 then you will be placed into the VIP category. This has added benefit of a VIP account manager who is on hand to answer any questions that you may have with regards to the platform.The VIP account also allows traders to gather monthly reports on their trading record. This is put together by the analysts at IQ Option. These reports can help the larger traders to properly analyse their returns and make sure that their trading strategy was appropriate.
When we did our tests, we did it on the live trading account and not on the VIP account. Hence, although we have no reason to doubt the benefits, we cannot verify the exact customer support that you are likely to get from an account manager.
IQ Option Trading Platform
One way in which IQ Option really stands out is their state of the art trading technology. Apparently, there are over 100 developers who are constantly working on the platform in order to improve its efficiency. They have also consulted traders who have collaborated with these developers.
We went over the platform and were quite impressed with how functional it really was. Surprisingly, unlike numerous other platforms, it did not sacrifice the layout or simplicity in order to integrate the range of sophisticated trading tools available.
These tools include numerous charting packages such as technical indicators and studies such as Bollinger bands and moving averages. This could no doubt be a great advantage for all of the technical analysts out there.
There are also numerous layout options that are available on the web interface. This is achieved through the use of widgets which can be positioned to the trader’s preference. This is helpful for those traders who would like to be able to trade on numerous different assets simultaneously.
What is also great to note is that IQ Option offers its platform not only as web based platform but also as computer based programs. You can download the proprietary IQ Option Mac or Windows trading software. This will connect to the IQ Option infrastructure.
We tried these out and they were much faster than the web based platform. This makes sense as our trading instructions were going straight to the servers at IQ option and not through a website interface first. Moreover, there was no browser software to slow down our experience.
While the IQ Option platform no doubt looks impressive, the most important consideration is it’s functionality. No matter how impressive a platform’s UI is, the tools at your disposal are what make or break the trade.
Let’s run through some of the most important functions and tools that you can use on the platform.
Like most trading platforms these days, you will have a range of different order types that you can submit when trading. On the IQ Option platform, these will differ according to the asset in question.
For example, when trading on IQ Option, there are a number of short/medium/long term strategies with a variable return utilizing the following order types:
- Multiplier: The multiplier is a coefficient that allows you to increase both the return on an investment and the level of risk.
- Stop Loss: This allows you to set a maximum loss that you are willing to accept. When a stop loss is triggered, it closes the trade.
- Take Profit: A Take Profit works very much like a stop loss expect on the opposite side of the trade. It will close out the trade once a desired profit has been realised.
- Trailing Stop:Trailing Stop makes ‘auto-close at loss’ operate dynamically and move with price in the desired direction.
- Purchase at (Pre-Order): This allows you to set a target price to enter the market.
Stop Loss Tools
Apart from just having the stop loss order types, IQ Option has some of the most diverse selection when it comes to setting your stops / take profits.
This is a major departure from most of the other platforms where you merely choose an asset price for your stops. Traders can utilize the following functionality:
- Take Profit
- Take Profit at X% Profit.
- Take Profit at Numerical Profit X.
- Take Profit at Asset Price X.
- Stop Loss
- Stop Loss at X% Loss.
- Stop Loss at Numerical Loss X.
- Stop Loss at Asset Price X.
- Trailing Stop (Dynamic Stop Loss)
- Use Balance to keep positions open.(if exceeded stop loss)
IQ Option Charting
IQ Option has a wide variety of charting options tailored to suit the needs of any trader. There are the following five different options to choose from:
- Area: Shows price as a line with a shaded area underneath.
- Line: Shows price as a line without a shaded area underneath.
- Candles: Shows a period of time, the price at the start and end of the period, and the volatility over the period as solid colours.
- Hollow Candles: Shows a period of time, the price at the start and end of the period, and the volatility over the period as hollow positive candles and solid negative candles.
- Bars: Shows a period of time, the price at the start and end of the period, and the volatility over the period as a vertical line with open and close prices as horizontal lines.
IQ Option offers 13 different technical indicators to choose from.
Indicators are the backbone of technical analysis and are used by day traders almost religiously. They are extremely useful when it comes to spotting trends, mapping momentum and identifying potential retracements.
IQ option has 13 different indicators that you can activate on the charting interface. These indicators are listed below with a brief explanation as to their use.
- Moving Average: Moving Averages are a group of technical indicators that are commonly used to determine the current trend. The most popular averages are the Simple Moving Average(SMA), the Weighted Moving Average(WMA), the Exponential Moving Average (EMA) and the Smooth Simple Moving Average(SSMA). Moving Averages are used in other technical analysis indicators such as Bollinger Bands, Alligator, MACD and Awesome Oscillator.
- Volume: The Volume indicator shows what amount of the selected asset was sold and purchased within a certain period of time. This is one of the few indicators that is not based on asset price. A high volume indicates a high interest in the asset at its current price and vice versa.
- Bollinger Bands: Bollinger Bands belongs to the category of ‘trend indicators’, They reflect the dynamic range of the price movement. With their help, many traders determine the relative position of the price movement.
- Alligator: The Alligator is an indicator for assessing the market movement direction and filtering no-trend-periods (Side Band). Its main purpose is to display the signal of an emerging trend. It is worth noting that this indicator is applicable to almost all time intervals and therefore can be considered cross functional.
- RSI: The RSI (Relative Strength Index) is used to determine the strength of a current trend and its possible reversal points. RSI compares the absolute asset price growth within a certain time period with the total price reduction within the same period. The result is visualized as curve on the chart with a range of 0 to 100%.
- MACD: The MACD (Moving Average Convergence Divergence) shows the convergence and divergence of moving averages. This indicator is a visualized ratio of two exponential moving averages. Its goal is to determine the strength and direction of the trend. The signal line in the indicator window is a simple moving average of the indicator values.
- Parabolic SAR: The Parabolic SAR is based on the price chart and displayed as a series of small dots. In terms of purpose, it is very similar to moving averages; the only difference is that Parabolic SAR moves with higher acceleration and changes its position depending on the price. When the trend is ‘Bullish’ (Upward), the indicator is below the prices; when the trend is Bearish (Downward) the indicator is above the prices.
- Stochastic Oscillator: Stochastic Oscillator (Stoch) indicates the current position of of the price in relation to the extrema within the selected period and is expressed as a percentage from 0 to 100. It gives signals of overbought or oversold conditions and helps identify at what points the market is ready for a reversal.
- Awesome Oscillator: The awesome oscillator is visualized ratio of two Simple Moving Averages (SMA’s)[1x Fast 1x Slow] in the form of a bar chart, Crossing the baseline here has the same effect as crossing SMA indicators on the price chart. This indicator shows the completion and development of new trends. Many traders consider Awesome Oscillator to be a simplified version of MACD.
- ATR (Average True Range): Unlike most indicators, ATR cannot predict the movement direction. It displays exclusively the current volatility of the trading asset within the selected period. Moreover, ATR determines the quote change rate. Active movement of ATR indicates an increase in the range of candlesticks.
- ADX (Average Directional Movement Index): The Average Directional Movement Index (ADX) is always ahead of the curve and shows the strength of a trend (upward/downward trend or weakening) prior to the start of the price movement. ADX indicator can also be used to identify potential change in market volatility.
- Fractal: Fractals are a series of at least five Japanese Candlesticks. The central candlestick is always higher or lower than the surrounding ones. The main purpose of Fractals is to display local minima and maxima of the price curve and indicate market reversal points.
- CCI (Commodity Channel Index): This indicator belongs to the class of oscillators that measure the speed of a price movement. CCI is designed for determining the upcoming market reversal. CCI can be used to assess the strength of the current trend or detect extrema. In general, CCI is very similar to ADX and can also be used as a tool to determine the market trend, as the CCI change rate depends on the strength of the current market trend.
IQ Option Mobile Trading
One thing that we have noticed on a number of exchanges and platforms is the lack of any mobile trading functionality. This can be disadvantageous for those traders who would like to monitor their positions when they are away from their PCs. Moreover, markets can move really quickly and time is often of the essence.
IQ option has developed their trading technology on mobile trading devices. They have apps on the iOS apple store as well as on Google play as an android version. They are free to download and you will connect your account to the app when you have it on your device.
Although the functionality has been scaled down in order to not compromise the visual effects of the app, there is still quite a bit of functionality with some charts, indicators and pair choice. It would indeed be easy to manage a number of different trades simultaneously on the device.
The only issues that we encountered were that trades were placed with a slight delay from the app. This could probably have been down to the network connection in the area that we were testing. Hence, if you would like to avoid any delays in execution then you should make sure that you are connected to a Wi-Fi on your phone.
IQ Option Trading Competitions
Something else that we came across that really intrigued us was the IQ Option trading competitions. These are essentially head to head trading competitions between a number of the users on the platform with prizes on offer.
As traders are naturally competitive to their core, this is a great opportunity for them to test their skills with their fellow traders. These competitions require a small fee to join and usually last for about 30 minutes. Hence, these are more for day crypto traders than those who trade using fundamental analysis.
Prizes are often cash prizes that can be multiples of your initial buy in amount. When you enter the competition you will be given the demo funds to trade with and the trader who was able to make the most returns in the period will win the loot.
It is important to note, however, that these competitions will require a certain minimum of traders to enter before the competition gets underway. If they are not able to garner the right amount of traders then the daily competition will be called off.
While this will no doubt bring an angle of fun to the trading, we found it slightly gimmicky. However, for those who want have a shot of making 100x their buy in amount while testing their skills, it could be a great option.
Earning OTN Tokens
Specifically for the cryptocurrency traders on IQ option is the option to earn OTN tokens when you are trading. These are essentially tokens of the Open Trading Network that are being given to traders through their weekly “emissions”.
The Open Trading Network aims to be the first platform that will offer cross-chain technology that will unite all of the blockchains and allow for a large decentralised crypto exchange. They are making it easier for people to exchange their various tokens. You can read more about it in the OTN whitepaper.
We are currently in the distribution phase of the OTN tokens. This is where the Open Trading Network will partner with a number of brokers such as IQ option to distribute OTN among the community. The expected launch of the OTN wallet will be in March 2020 with support for 7 tokens in total.
They are given to traders based on how often they trade so those traders who have traded more in the week are entitle to more OTN tokens. Hence, not only could you get the benefit of trading cryptocurrency and making returns from that but you could get additional tokens.
The OTN tokens can also be sold on a few centralized exchanges such as Cryptopia and HitBTC.
IQ Option Affiliate Program
If you are one of those traders that has many people that you would like to recommend to IQ option then you can make use of the IQ Option Affiliate program. This is essentially a commission based structure that will pay you based on the trading fees that your referral will generate.
They also operate with a certain tiered structure where more signups brings you more rewards. This means that if you are able to bring in a certain amount of business, your benefits as an affiliate on the IQ option platform will increase.
When you start out promoting CFDs at IQ option as an affiliate, you will get a 50% “revenue share” deal with the broker. What this means is that for the lifetime of the client, IQ Option will pay you 50% of what they earn.
This makes it look much better than many of the other alternatives that still have relatively low partnership agreements with their affiliates (10-20%). Moreover, given that these are lifetime agreements, you will receive it as long as your referral is trading at IQ Option.
How Does it Work?
You will have to sign up for an affiliate account at IQ option. Once this has been done you will be assigned an affiliate manager. They will then give you everything that you need to know about the platform as well as ask you to complete affiliate KYC and compliance.
Once you have been approved, you can start promoting IQ Option with the affiliate link that they provide. You will start off on the first level of affiliate which will give you the 50% revenue share of the broker’s profits.
You will then accrue earnings from IQ option and based on the performance and the returns of your promotions you could advance to the next level which has other benefits such as instant withdrawals as well as slightly higher commissions.
The IQ option affiliate dashboard is really advanced and allows you to track the traffic from your referrals as well as who has signed up and the amount that your affiliates are trading. This will give you a nice picture of how your affiliate performance is going.
One thing that we have noticed among cryptocurrency exchanges and brokers that offer affiliate programs is the lack of accompanying promotional material. They often expect the person to create their own banners and videos to promote their brand.
The affiliate program at IQ Option provides a range of banners, videos, scripts and iframes that allow you to most effectively market the product. They can all be accessed in the IQ Option affiliate dashboard and you can search for them based on instrument, asset or language.
Affiliate Program Reputation
There are many brokers and exchanges that will happily take your referrals and then keep your fees when it comes to time to pay you your funds. Given the reputation of IQ Option and their regulated status, they have to make sure that everything is completely 100% above board.
You are only allowed to promote their product in the most ethical way and they regularly monitor your marketing materials and traffic to make sure that you are abiding by their terms and conditions.
Given their reputation, IQ option is probably one of your best bets when it comes to receiving your commissions. They will pay out twice monthly and if you are on a level that allows you to withdraw instantly, they will honour that too.
In terms of payment options, they are able to pay you in much the same way as the traders in that you can either use wires, Neteller, Skrill or the like.
Customer Complaints of IQ Option
We would not be able to complete a full review of the IQ Option if we did not take a look at the reputation that the company has online. There are a number of people in forums who have made claims about IQ Option and their customer service.
Most appear to be clients who did not want to comply with the KYC procedures when they wanted to withdraw. IQ option allows clients to fund their accounts before they have requested all of the documents for the client. This means that there could indeed be some frustration on the part of the clients.
However, these are similar procedures at a number of the largest Bitcoin exchanges where funds cannot be withdrawn until you have sent them the correct KYC docs. These are even for a number of the exchanges that even do not have Fiat withdrawal functionality.
We also found a number of positive IQ option reviews so it seems as though there was not really an established trend when it comes to the reputation of IQ option.
Is IQ Option the Broker for Me?
Our comprehensive review has found that IQ Option is no doubt a great option for those traders who want to trade derivative instruments on a range of different cryptocurrency pairs, Forex assets, stocks and ETFs. We were really impressed with the trading platform as well as the extension of device applications.
The customer support was also above par and our queries were settled in a reasonable amount of time. The only time that we really needed them was on verification which is exactly when most traders will need them. Having the telephone number there also adds some confidence for the trader. We must not forget that IQ Option has been adding millions of accounts while other exchanges have been turning them away.
Apart from the general trading experience, we found the option to earn OTN tokens a great benefit for those day traders who did volume. These can essentially be considered as free “Air-drops” where you are rewarded for trading.
One of the most important factors for us, and no doubt many other traders, is the fact that they are fully regulated and client deposits are safe. If there are any liquidity issues at IQ option then European regulators will back the client up with the guaranteed deposit policies.
Of course, there are some things that IQ option can do to improve their service. For example, they can include a number of other cryptocurrency Altcoins that are currently in the top 100. They could also consider adding other Fiat / Crypto crosses such as the GBP or EUR for example.
It would also be great to see if IQ Option will eventually allow API access to the platform so that those traders who like to code trading algorithms can link up to it. We hope to see developments on this sometime soon.
Yet, for those traders that are in a jurisdiction that they cover, we can definitely recommend IQ Option as a reputable CFD broker.
Risk Warning: Trading CFDs and Options could put your capital at risk. Always manage your risk appropriately
Binary Options No Deposit Bonuses in 2020 | Free Real Money To Trade Binary Options
IQOption trading platform review! IQOption can be definitely an internet binary options trading platform which has been created in 2020. They feature more trading options such as: Crypto, Forex, Stocks and ETFs together with binary options! The platform is possessed and handled by way of a Cyprus Investment Company (CIF) called IQ Option Europe Ltd that will be a regulated entity. Since IQ Option first began operations in 2020, this broker was able to differentiate themselves from other binary options agents in the business.
IQOption developed their very own trading platform that is created specifically to satisfy the wants of your own dealers.
- Minimum Deposit is $10 and $1 Minimum Trade Size
- Demo Account Without Deposit – Click Here To Open an Account
- Great Trading Platform for Crypto, Forex, Stocks and ETFs along with binary options !
- up to 92% Profit (*) – Amount will be credited to account in case of successful investment!
- Great Trading Tournaments Every Month – (*) Tournaments are subject to Terms & Conditions and clients residing in the European Union can’t acces to Trading Tournaments
Click on the button below to open an IQ Option account now:
RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK
One variable that makes IQOption exceptionally attractive with binary options dealers would be your low minimum deposit demand. From pegging the deposit demand in 10$, IQOption has truly made online trading cheap to everybody else. There’s also the supply of this free demo accounts of 10,000$ that potential customers of IQOption may subscribe for and utilize to check the services provided by IQOption and never needing to risk their cash first. Demo account are ordinarily not made available from binary options brokers which means that really is a plus also.
For dealers that wish to trade mobile, IQOption has additionally provided mobile versions of these newly introduced trading platform. The cell trading program might be downloaded in GooglePlay Store and Apple’s appstore. Predicated to the Apple appstore’s standing, the IQOption mobile program is rated in most nations.
Customer service at IQOption can be obtained 24 hours a day 7 days a week, Live chat service is supplied to any or all IQOptions customers who’ve Deposited funds in their trading accounts. But IQOption Should be praised for encouraging their own internet site in twelve different Languages for non English speaking dealers.
Best Binary Options Broker!
Perfect For Beginners!
Free Trading Education!
Free Demo Account!
Good Choice For Experienced Traders!