No doubt, the Internet is awash with binary options trading platforms. But finding a reliable broker can be a hassle. IQ Option, although young in the binary trading industry, stands out from the crowd. From the trading platform and design, through the trading conditions bonuses, you’ll probably like everything about this broker. Let’s go over the details which makes IQ Option one of the better binary brokers around:
Licensing and Regulation
IQ Option went online in 2013 and has gained a huge following within that short duration. They have a great reputation and positive reviews all over the web. So as a new or experienced binary options trader, you don’t have to worry about being scammed. The broker is fully legit, operated by IQ Option Europe Limited, Cyprus. CySEC licenses IQ Option under license number 247/14.
Key Feature that Makes IQ Option Distinct
- Minimum deposit – Anyone can become a trader with IQ Option due to the ridiculously low deposit amount of only $10. This minimum deposit allow you to participate in the highly rewarding currencies market even if you don’t have much. It can also serve you as a great practice account before you increase your investing once you know the platform and ready to play big time.
- Minimum Trade – The low deposit requirement might surprised you. IQ option allows you to place a minimal transaction’s size of $1. This is a great solution for beginners, and ones who might not manage to risk much.
- Free demo account- Another great feature of IQ Option is the demo account they offer. Once you sign up, you can get a free 1000$ demo. That way, you can take your time to practive and educate yourself before using real money.
Types of Investment Accounts
Demo account – As mentioned above, IQ Option is among the few brokers that offer a free practice account for new customers. On this account, you are given $1000 that you can use for learning purposes until you master binary trading. And all that comes free of charge. However, you can deposit right away in a real account and start trading immediately if you choose to.
Real account – Upon signup and depositing the minimum $10 on IQ Option, you get a Real live Account. As a new trader you gain full access to all trading options available and can trade in over 70 assets available. You can also get a deposit bonus not exceeding 30% of your deposit amount. In addition, you will get high quality trading signals once depositing more than 100 dollars in order to assist you generating higher profits. There are also attractive trading competitions all the time, where you can take part and win generous prizes. As we’ll go over in a minute, the money transfers are safe and fast without any additional fees.
VIP account – For an exceptional trading experience, there is the VIP account. With a relatively low minimum amount of $1000, you will get extra trading conditions. Your deposit bonus increases to 50% of your investing amount. The withdrawal duration reduces to 1 day. Moreover, you will receive monthly analysis from expert analysts. For better predictions, there is a personal manager you can use who can guide you while you trade.
There are over 70 available assets you can trade on. You need to select the ones you are comfortable with to increase your winnings chances. They appear in the form of:
- Currency pairs – such as the EUR/USD, AUD/CAD, GPB/USD
- Indices – Dow Jones, S$P 500 and more.
- Stocks- over 50 stocks from leading companies like Wal-Mart, Barclays, and Apple.
- Commodities – Gold and Silver
- Bitcoin – IQ Option is one of a few brokers which offer this.
Professional Trading Platform
Undoubtedly, not many brokers can match IQ Option in the design of the trading platform. They have developed their trading software that even a beginner can master within minutes of experiencing.
Types of Trading Positions on IQ Option
Trading with IQ Option is not complicated like in some other binary brokers. You can pick an option that expires in 60 seconds, which is ideal for those who want to make money faster and take advantage of rapid fluctuations. You need to understand though that 60 seconds trading is riskier and requires keenness. If you are not comfortable with this type of positions, you can place longer term orders that expire in 30 minutes or even 24 hours.
Thirty Minutes Competitions
Another cool feature that sets IQ Option from its competition is a tournament that everyone can participate. It takes 30 minutes, and each participant gets $10,000 to start with. There are decent prizes for those who emerge top at the end.
The minimum amount you can invest in a single trade is $1 while the maximum is $1000. That covers what most investors are usually comfortable with. Few people would feel left out whenever they would like to execute trades above 1000 dollars.
Banking Options for Investors
Depositing – IQ Option offers a variety of deposit options for the investors. They are Visa and Master Card, Skrill, bank wire transfer, Web money, and Neteller.
Simply sign in and deposit with your favorite banking options.
Withdrawal – Withdrawing is very simple and usually takes 1 to 3 days depending on the account type you have. You have to apply for withdrawal and can take out your account balance whenever you want. Note that you’ll have to use the same method you used to fund your account with.
Returns in IQ Option
The returns can go as high as 92% which is above what most other brokers offer. For the VIP account, they have refunded to lower the risk of losses. Keep also in mind that the monthly analysis and the assigned personal manager help you to increase the overall performance and therefore the returns.
IQ Option offers not only first deposit bonus but also on subsequent deposits. The real account has a bonus of 27% for deposit amounts below 100 dollars. For deposits of $5000 and more, you get a bonus of 50%. As mentioned above you can qualify as a VIP member if your deposit is 1000 dollars and above. You have to wager on the bonus 25 times to be eligible for withdrawal.
Excellent Customer Support
The customer support team at IQ Option is available 24/7 and will offer quick solutions for any issue you might have. You can reach them on email email@example.com, telephone or through a web form.
Drawbacks of IQ Option
- Currently, there is no live chat for traders. They do provide great support and always respond fast and efficiently. However, some users prefer the live chat channel of communication. Hopefully, it’s something they will address.
- Countries like US, Canada, Japan, Russia and Australia are not eligible to trade. That locks out ardent traders who would like to have a feel of IQ Option.
Binary options trading is a risky undertaking that can lead to losses. It is advisable to invest the money that you are ready to lose. However, if you study the markets correctly, this can be a lucrative business. IQ Option offers you a legit and regulated platform where you have all the conditions to earn money according to your performance. The great bonuses, competitions, education and trading signals make it one of the favorable choices among binary trading.
IQ Option is a trusted broker. Open A Free Account for an excellent trading experience.